Outrider Energy Corp. Announces Effective Date of Share Consolidation and Resignation of Advisory Board Members
March 24, 2015
Vancouver, British Columbia – Outrider Energy Corp. (CSE:MCF) ("Outrider" or the "Company") announces that the Company's share consolidation (the "Consolidation") will take effect for trading purposes on the Canadian Securities Exchange as of Thursday, March 26, 2015. The Consolidation of the Company's issued and outstanding common shares will be on the basis of one new common share for every twenty existing common shares with lesser fractions being rounded down to the nearest whole number of common shares.
As previously announced on February 10, 2015, the Consolidation was approved by Shareholders at the Company's Annual General Meeting held on January 29, 2015. The Company's trading symbol will remain unchanged post Consolidation.
The Company currently has 29,442,351 common shares issued and outstanding. Assuming no other change in the issued capital of the Company, it is expected that following the Consolidation, the Company will have approximately 1,472,117 common shares issued and outstanding prior to rounding for fractional shares.
Management believes that consolidating the Company's issued share capital would be in the best interests of the Company. In the opinion of Management, the share consolidation will improve the ability of the Company to attract additional equity financing and assist in the Company's efforts to acquire new projects of merit.
The Company also announces that it has accepted the resignations of the members of the Advisory Board effective March 5, 2014.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Interim President and Chief Executive Officer
Outrider Energy Corp.
Tel: (604) 696-9020